This bill amends various sections of the Louisiana Revised Statutes to repeal the corporation franchise tax and modify related tax credits. It eliminates provisions concerning the application, administration, collection, and payment of the corporation franchise tax, as well as the automatic rate reduction under certain circumstances. The bill shifts the language from "corporation franchise tax" to "corporation income tax," indicating a significant change in the tax structure. Additionally, it modifies existing tax credits, ensuring they apply only to Louisiana income tax, and establishes guidelines for the refunding or carrying forward of excess credits.

Furthermore, the bill introduces new refundable tax credits for child care providers and businesses supporting child care expenses, based on the quality rating of the facilities. It also allows research and development tax credits for tax years 2018 and later to be transferable to other Louisiana taxpayers under specific conditions. The overall intent is to streamline the tax credit process, enhance support for targeted sectors, and promote economic development while clarifying the tax code by removing outdated references to the corporation franchise tax. The changes are set to take effect on January 1, 2026.

Statutes affected:
HB3 Original: 47:750(E)(1), 47:6005(C)(1), 47:6006(A), 47:1(A), 47:6008(A), 47:6013(A), 47:6014(A), 47:6015(B)(1), 47:6017(A), 47:6018(B), 47:6019(A)(1), 47:6020(D)(2), 47:6022(E)(1), 47:6028(C), 47:6032(A), 47:6033(C), 47:6036(C)(1), 47:6105(A), 47:6107(A), 47:6108(A), 51:1787(A)(2), 51:3(A)(1), 47:3204(H)(1), 47:4305(B)(1)
HB3 Engrossed: 47:750(E)(1), 47:6005(C)(1), 47:6006(A), 47:1(A), 47:6008(A), 47:6013(A), 47:6014(A), 47:6015(B)(1), 47:6017(A), 47:6018(B), 47:6019(A)(1), 47:6020(D)(2), 47:6022(E)(1), 47:6028(C), 47:6032(A), 47:6033(C), 47:6036(C)(1), 47:6105(A), 47:6107(A), 47:6108(A), 51:1787(A)(2), 51:3(A)(1), 47:3204(H)(1), 47:4305(B)(1)
HB3 Reengrossed: 47:750(E)(1), 47:6005(C)(1), 47:6006(A), 47:1(A), 47:6008(A), 47:6013(A), 47:6014(A), 47:6015(B)(1), 47:6017(A), 47:6018(B), 47:6019(A)(1), 47:6020(D)(2), 47:6022(E)(1), 47:6028(C), 47:6032(A), 47:6033(C), 47:6036(C)(1), 47:6105(A), 47:6107(A), 47:6108(A), 51:1787(A)(2), 51:3(A)(1), 47:3204(H)(1), 47:4305(B)(1)
HB3 Enrolled: 47:750(E)(1), 47:6005(C)(1), 47:6006(A), 47:1(A), 47:6008(A), 47:6013(A), 47:6014(A), 47:6015(B)(1), 47:6017(A), 47:6018(B), 47:6019(A)(1), 47:6020(D)(2), 47:6022(E)(1), 47:6028(C), 47:6032(A), 47:6033(C), 47:6036(C)(1), 47:6105(A), 47:6107(A), 47:6108(A), 51:1787(A)(2), 51:3(A)(1), 47:3204(H)(1), 47:4305(B)(1)
HB3 Act 6: 47:750(E)(1), 47:6005(C)(1), 47:6006(A), 47:1(A), 47:6008(A), 47:6013(A), 47:6014(A), 47:6015(B)(1), 47:6017(A), 47:6018(B), 47:6019(A)(1), 47:6020(D)(2), 47:6022(E)(1), 47:6028(C), 47:6032(A), 47:6033(C), 47:6036(C)(1), 47:6105(A), 47:6107(A), 47:6108(A), 51:1787(A)(2), 51:3(A)(1), 47:3204(H)(1), 47:4305(B)(1)